2016-11-15T15:50:14-06:00 2015-12-31 450250958 EIDE BAILLY LLP 4310 17TH AVE S PO BOX 2545 FARGO ND 581082545 990 2015-01-01 237120898 North Dakota State University Development Foundation NORT 7012316800 1241 N University Drive Fargo ND 58102 Allyson Peterson Sr VP Finance & Operations/CFO 7012316820 2016-11-15 1 LISA CHAFFEE CPA P00193453 7012398500 2016-11-15 2015 2017-02-10 21:41:12Z NDSU Development FoundationAlumni Association John R Glover 1241 N University Drive Fargo ND 58102 46457990 0 X www.ndsufoundation.com X 1971 ND To advance education, research, and service at North Dakota State University; to work with faculty, staff, students, alumni, business and the community to represent common interests; to raise funds, manage assets and administer resources to stimulate continued development at the University. 59 57 47 345 59494 47714 39910767 21417369 597465 705878 1186992 3524811 -77959 -382758 41617265 25265300 17432171 18936300 0 0 2717955 2328386 112847 378875 1445767 1693658 1911035 21956631 23554596 19660634 1710704 247939444 245561580 28816622 30408256 219122822 215153324 X The North Dakota State University Development Foundation creates opportunities to advance education, research, and service at NDSU. We work in close collaboration with faculty, staff, students and alumni, along with business, industry and the community to best understand and represent common interests. With the needs of the entire University in mind, we efficiently and effectively raise funds, manage assets and administer other privately funded resources to stimulate continued development at NDSU. 0 0 15447618 15447618 Grants to NDSU for buildings, equipment, research, lectures, faculty development, supplies, travel and other departmental needs and activities not funded through state appropriations or student tuition fees. 3488682 3488682 Scholarships and awards to students enrolled at North Dakota State University selected by independent scholarship committees. 621930 731632 Alumni records, newsletters and special events such as Homecoming, city alumni/student exchanges. Sponsor University programs such as Harvest Bowl and Celebration of Excellence. 19558230 1 1 0 1 0 0 0 1 1 1 1 1 0 0 1 1 0 1 0 0 1 0 0 1 1 0 0 1 0 1 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 1 98 0 1 47 1 1 1 0 0 0 0 1 1 0 0 0 0 X 59 57 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MN CA X X Allyson Peterson Senior VP Finance & OperationsCFO 7012316820 1241 University Drive N Fargo ND 58102 Steven J Swiontek Chair of the Board 7.00 X X 0 0 0 Ryn Pitts Past Chair of the Board 2.00 X X 0 0 0 John S Wold Vice Chair 1.50 X X 0 0 0 Robert E Challey Secretary 7.00 X X 0 0 0 Gary Paulsrud Treasurer 3.00 X X 0 0 0 Sue Andrews Trustee 0.50 X 0 0 0 Julie Barner Trustee 1.00 X 0 0 0 Barry Batcheller Trustee (resigned 4/23/15) 0.50 X 0 0 0 Sally Berrell Trustee 3.50 X 0 0 0 Barbara Burgum Trustee 0.50 X 0 0 0 Julie Burgum Trustee 1.00 X 0 0 0 Paul Cossette Trustee 1.00 X 0 0 0 Terrence C Dahl Trustee 0.50 X 0 0 0 Donn Diederich Trustee 0.50 X 0 0 0 Spencer Duin Trustee 4.00 X 0 0 0 Dave Ekman Trustee 1.00 X 0 0 0 Larry Ellingson Trustee 0.50 X 0 0 0 Richard J Erickson Trustee 0.50 X 0 0 0 JoAnn Garaas Skabo Trustee 1.00 X 0 0 0 Dr David J Glatt Trustee 0.50 X 0 0 0 Kristi Hanson Trustee 1.50 X 0 0 0 Michael E Hanson Trustee 1.00 X 0 0 0 Terry J Hanson Trustee 1.50 X 0 0 0 Robert Heller Trustee 2.00 X 0 0 0 Ron Holocek Trustee 0.50 X 0 0 0 Jennifer Hopkins Trustee 0.50 X 0 0 0 Paul Horn Trustee 1.00 X 0 0 0 James R Howe Trustee 1.00 X 0 0 0 Frank Jennings Trustee (resigned 6/30/15) 1.00 X 0 0 0 Nancy Johnson Trustee 1.00 X 0 0 0 Barbara Jones Trustee 0.50 X 0 0 0 Nancy Johnson Jordheim Trustee (resigned 6/30/15) 1.00 X 0 0 0 John R Klai II Trustee 1.50 X 0 0 0 Terrance Kristensen Trustee 1.00 X 0 0 0 Michael Krueger Trustee 1.00 X 0 0 0 Russel J Kuzel Trustee 0.50 X 0 0 0 Robert C Lauf Trustee 1.00 X 0 0 0 Robert Lervick Trustee 2.00 X 0 0 0 Brady Lipp Trustee 0.50 X 0 0 0 Thomas E Lundeen Trustee 0.50 X 0 0 0 David S Maring Trustee 1.00 X 0 0 0 Richard Marsden Trustee 1.00 X 0 0 0 Dr James Meier Trustee 0.50 X 0 0 0 Franklin D Meyers Trustee 1.00 X 0 0 0 Dr Robert C Montgomery Trustee 0.50 X 0 0 0 Connie Nicholas Trustee 0.50 X 0 0 0 David Olig Trustee 1.00 X 0 0 0 Ronald G Olson Trustee 0.50 X 0 0 0 John Q Paulsen Trustee 0.50 X 0 0 0 Jonal Uglem Trustee (resigned 6/30/15) 0.50 X 0 0 0 Keith Peltier Trustee 1.50 X 0 0 0 Jan Promersberger Trustee 1.00 X 0 0 0 James Roers Trustee 0.50 X 0 0 0 Eileen Scheel Trustee 0.50 X 0 0 0 Kenneth Skuza Trustee 1.00 X 0 0 0 Terry Stroh Trustee 0.50 X 0 0 0 Charles Ulmer Trustee 2.00 X 0 0 0 Jeffry Volk Trustee 6.00 X 0 0 0 Mark D Walstead Trustee 0.50 X 0 0 0 Mary Zweber Trustee 0.50 X 0 0 0 Carol Goodman Trustee 1.00 X 0 0 0 Phil Hansen Trustee 0.50 X 0 0 0 Matthew Vettel Trustee 0.50 X 0 0 0 Douglas P Mayo President & CEO (thru 1/31/15) 50.00 X 134096 0 7753 Keith Bjerke Interim President (1/31/15-10/31/15) 50.00 X 157579 0 4513 John R Glover President & CEO (From 10/15/15) 50.00 X 59318 0 9127 Allyson Peterson VP of Finance/CFO 50.00 X 92775 0 21642 443768 0 43035 2 0 1 0 Ruffalo Noel Levitz PO BOX 718 Des Moines IA 50303 Call Center Operations 379975 Commonfund PO Box 5493 Boston MA 02206 Investment Fees 185186 Media Productions LLC 3241 University Dr S Fargo ND 581046221 Event AV Services 127140 3 299592 10000 21107777 4044009 21417369 Alumni Records Fees 611710 512679 512679 Program Event Revenue 611710 139306 139306 Miscellaneous Income 900099 53893 53893 705878 2341164 31611 2309553 185641 185641 2507964 3089106 -581142 -581142 -581142 18961314 17777667 1183647 1183647 1183647 282398 299592 323292 -40894 -40894 28379 2625 25754 25754 Alumni Travel 561500 16753 16753 Alumni Insurance, Net 524298 8630 8630 Advertising 900099 2500 2500 27883 25265300 731632 59494 3056805 18936300 18936300 488712 93399 301914 93399 1241340 171816 573280 496244 111679 15533 50507 45639 356945 33208 190921 132816 129710 20232 65446 44032 71988 71988 54475 54475 378875 378875 185185 185185 89274 89274 103430 18993 32251 52186 231854 21081 161585 49188 125016 162 110473 14381 147374 147374 125652 40110 42395 43147 39499 3110 32294 4095 52757 52757 162503 162503 50967 50967 Income Taxes 14837 14837 Event Expense 332516 143145 136331 53040 Public Relations/Donor 107926 59298 15580 33048 Dues & Subscriptions 11145 1843 8262 1040 4637 4637 23554596 19558230 2550599 1445767 25741717 22194829 40207461 32431134 124462 175864 1098297 1021995 47881 0 85232 136871 59408028 18446166 40696569 40961862 126895418 130694910 12059010 16980883 983397 963232 247939444 245561580 1030363 441176 1744105 43463 16137 17915737 16201961 399741 302490 631235 7037743 7051978 6408749 28816622 30408256 X 36043242 31199743 51835434 37574402 131244146 146379179 219122822 215153324 247939444 245561580 X 1710704 -5629754 -50448 X 0 1 X 1 0 X 14028816 16530113 15288493 39910767 21417369 107175558 14028816 16530113 15288493 39910767 21417369 107175558 16176116 90999442 2493783 5431512 10759174 5050404 5034769 28769642 10269 45315 47714 103298 136048498 3668160 0.66890 0.62560 X Part II, Short Year Explanation: Amounts reported in Schedule A, Part II, Section A and Section B, Column (a) are for the short period of 7/1/11 through 12/31/11. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 0 0 0 0 0 Part II-B, Line 1: Our board members have had conversations with state legislators to educate them on the difference in the funding of higher education institutions. 89447 X 1 0 1 X 138010237 21868428 -1756349 2954508 10381449 2112215 142674144 121989430 14991952 6291966 2362106 867726 2033279 138010237 109538221 6401027 16211546 2390330 5933315 1837719 121989430 96182964 7529241 10535512 2212956 804363 1692177 109538221 103467572 3370336 -8114756 1161484 356415 1022289 96182964 0.00360 0.87910 0.11730 0 0 2049166 1282777 3331943 7138253 42349008 13848696 35638565 3476515 2461768 1014747 2229122 1916205 312917 883187 219497 663690 40961862 Mineral Interest 42285 C Partnership Funds 12840190 F Real Estate Fund 4098408 F 16980883 Gift Annuities Payable 2806558 Trusts Payable 3610554 Due To Fossum -67727 Special Assessments Payable 59364 6408749 X Part III, Line 1a: In 2015 the Foundation received a donation of 1,314 pieces of artwork valued at $1,267,134. The Foundation has made the election as permitted under SFAS 116 (ASC 958) to not report this donation in its revenue statement and balance sheet. Part III, Line 4: Bronze statue and wall hanging, depicting the bison mascot and symbol of NDSU. Items are on public display to promote the University. Collection of art is displayed on campus to promote the visual arts and used in study for related majors. Part IV, Line 2b: Cash and cash equivalents held for others consist of funds held and invested for various organizations. Investments held for others represent the portion of charitable remainder unitrusts for which the Foundation holds the assets, but is not the beneficiary. Part V, Line 4: The endowment funds held by North Dakota State University Development Foundation have been established to follow donors' wishes to provide an ongoing reliable source of funding to North Dakota State University for student scholarships, faculty support, departmental support and organization operations. Part X, Line 2: The Foundation is a publicly supported organization under Internal Revenue Code Section 501(c)(3), and is classified as an organization which is not a private foundation. Accordingly the Foundation is not subject to federal income taxes. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purposes. The Foundation believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. The Foundation's Form 990-T and other income tax filings required by the state of North Dakota are no longer subject to tax examination for years before 2012. Central America and the Caribbean - Investments 27133630 0 0 0 0 0 0 27133630 0 27133630 1 0 1 1 0 0 X 1 Ruffalo Noel Levitz PO BOX 718 Des Moines IA 503030718 Student Telemarketing 0 401422 378875 22547 401422 378875 22547 MN BBB Auction 392305 234390 157915 157915 41755 BBB Dinner 83250 83250 4525 61574 7926 2 103437 65202 38235 11591 14652 15362 2990 5001 578992 299592 279400 169506 60932 76936 2990 12927 323291 -43891 1 North Dakota State University 1340 Administration Ave Fargo ND 58102 456002439 NDSU 17968800 Cash grants provided for student scholarships, faculty support, departmental support for equipment, research, supplies, travel, etc. Team Makers Club Inc 1002 28th St S Ste B Fargo ND 58103 456014085 501(c)(3) 967500 Construction of the NDSU Sports Bubble 2 0 Part I, Line 2: Grants are paid to or at the direction of North Dakota State University for scholarships, departmental expenses, grants, and buildings and equipment. We provide grants in accordance with applicable donor restrictions. The use of these grant funds are monitored throughout the year through the Request of Payment process and scholarship process. In addition, we rely on the University to monitor appropriate use of funds. X 1 1 X X X 1 0 0 0 0 0 0 0 0 Keith Bjerke Interim President (1/31/15-10/31/15) 151136 0 0 0 6443 0 4513 0 820 0 162912 0 0 0 Part I, Line 1a A housing allowance was provided to the incoming President/CEO while he sought a permanent residence, per his employment agreement. All such payments were treated and taxed as compensation. Part I, Line 1b This was a special provision of the employment contract for the President/CEO. The Search Committee determined the provisions of the contract which was reviewed and approved by the Executive Committee. Part I, Line 4a Former President/CEO Doug Mayo received severance payments of $78,064.36 in cash and a vehicle valued at $35,955.84. A Cass County ND 456002205 2005-12-20 3500000 Finance Construction & Equipment of Offices 0 0 0 B North Dakota State University Development Foundation 237120898 2010-12-17 5650000 Payment of loan incurred for renovation of bldg for classrooms and offices 0 1 0 C City of Fargo ND 456002069 307522BC5 2012-05-23 12145894 To refund bonds issued 11/29/2007 0 0 0 A 2043039 3500000 18500 3481500 2007 0 0 1 1 B 970000 5650000 31489 5618511 2010 0 0 1 1 C 2080894 12145894 162239 11983655 2012 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 Date Rebate Computation Performed Issuer Name: Cass County, ND Date the Rebate Computation was Performed: 11/30/2007 PBNJ LLC Entity 100% owned by Foundation Board Trustees Robert Challey & James Roers 614992 Purchase of four residential properties. 0 X 3 4500 FMV X 4 29622 FMV X 95568 FMV X 42 1651873 Average High/Low X 1 15000 Audited Value X 1 774809 FMV X 1 49758 Appraised Value X 2 16582 FMV X Grain 6 139163 FMV 1 0 1 0 Form 990, Part VI, Section A, line 1 The Organization's Executive Committee consists of 14 members including five trustee officers of the Organization and nine other trustees. The President of North Dakota State University, the President and CEO of the Development Foundation, and the Chair of the Board and Vice Chair of the NDSU Alumni Association Board of Directors shall serve as ex-officio, non-voting members. During the interval between semi-annual meetings of the board of trustees, the Executive Committee has the authority to act on behalf of the board on any matter other than election of trustees or revision of the Organization's bylaws. Form 990, Part VI, Section A, line 2 Robert E. Challey and James Roers have a business relationship. Julie Burgum and Barbara Burgum have a family relationship. Paul Cossette and Dave Ekman have a business relationship. Form 990, Part VI, Section B, line 11 The Form 990 was reviewed by the Audit Committee before filing. After filing the Form 990, the Public Disclosure copy will be sent to all trustees. Form 990, Part VI, Section B, line 12c Foundation officers, trustees, and staff are required to report any potential conflicts of interest to the Chair of the Foundation Board, and the Foundation's Chief Staff Officer for review and possible remedial action. Such action may include holding the information on file, informing the board of the appearance of a conflict of interest, or requiring the trustee to either cease and desist the activity or to relinquish Foundation trusteeship. Form 990, Part VI, Section B, line 15a The process for determining compensation for the President and CEO is the responsibility of the Organization's seven member Compensation Committee. Five of the members are independent trustees and two are independent directors of the NDSU Alumni Association. The committee annually reviews mutually determined goals and objectives of the incumbent. Salary adjustments are based on a review of similar positions at 19 peer institutions, as determined by the ND State Board of Higher Education. In making salary recommendations, the committee takes advantage of information compiled annually by the College and University Personnel Association (CUPA) for those peer institutions. In turn, the President and CEO evaluates four direct reports using mutually agreed to goals and objectives for each person. The CUPA report is used for salary comparisons for similar positions at peer institutions. The President and CEO's recommendation on salary is forwarded to the Committee for review. As part of the annual budget, all salaries are then approved, in turn, by the Finance Committee and the Executive Committee. Form 990, Part VI, Section C, line 19 The Organization's governing documents, conflict of interest policy and financial statements are available upon request. In addition, the most recent audited financial statements are available on our website. Form 990, Part XI, line 9: Change in Split Interest Agreements -125,448. Fossum Transfer 75,000. NDSU Alumni Association 1241 University Dr N Fargo ND 58102 450173089 Alumni Relations ND 501(c)(3) Line 5 N/A 0 Fossum Foundation Inc 1241 University Dr N Fargo ND 58102 456013302 Supporting Organization ND 501(c)(3) Line 11a, I North Dakota State University Development Foundation 1 Charitable Remainder Unitrusts (29) Charitable Trust ND N/A T 1 Charitable Remainder Annuity Trust (1) Charitable Trust ND N/A T 1 Perpetual Trust (1) Charitable Trust MN N/A T 1 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 Fossum Foundation Inc S 75000 General Ledger Fossum Foundation Inc E 67727 General Ledger Form 990, Schedule R, Part II The NDSU Alumni Association's relationship is such that all activity is consolidated with the filing Organization.